Another Class Action Filed Against an ICO, Monkey Capital hit with law suit by Silver Miller
December 21, 2017 | Back to News
Initial Coin Offerings (ICO) that raised money from US investors are easy targets for law firms and plaintiffs looking to collect on bogus ICOs or ones that simply did not file the proper securities exemption and have failed to deliver on stated commitments.
Silver Miller, a firm that has pending actions against Tezos, Kraken, Coinbase and Cryptsy exchanges, has just filed the most recent class action. This law suit has been filed against the Monkey ICO and its alleged creator Daniel Harrison. As the story goes, the Monkey ICO originally listed on the Waves platform only to disappear into the digital vapor. The apparent scam has been widely discussed within the crypto space with allegations the whole think was concocted as a Ponzi scheme. Investors were lured into a deal that was said to be too good to be true. And guess what, it probably was.